Exempting the Importation of Ocean-Going Vessels from Customs Duty and Compensating Tax
Presidential Decree No. 215 • Presidential Issuances • Presidential Decrees • Jun 16, 1973
Full text
June 16, 1973 PRESIDENTIAL DECREE NO. 215 EXEMPTING THE IMPORTATION OFOCEAN-GOING VESSELS FROM THE TEN PER CENT CUSTOMSDUTY AND SEVEN PER CENT COMPENSATINGTAX In line with the policy to encourage the development of the shipping industry in this country, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines and pursuant to Proclamation No. 1081 dated September 21, 1972, and General Order No. 1 dated September 22, 1972, do hereby order and decree that the importation of ocean-going vessels shall be exempted from the payment of the ten per cent customs duty prescribed in the Tariff and Customs Code and the seven per cent compensating tax provided in the National Internal Revenue Code. acd Any provision of law, executive order or regulation inconsistent with this Decree is hereby repealed or modified accordingly. This Decree shall take effect immediately. aisa dc DONE in the City of Manila, this 16th of June, in the year of Our Lord, Nineteen Hundred and Seventy-Three.
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.